Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell. Asian stocks were mixed today, 6 August 2015.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 447.90 crore yesterday, 5 August 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 189.11 crore yesterday, 5 August 2015, as per provisional data.
ICICI Bank after market hours yesterday, 5 August 2015 said that the bank through its DIFC (Dubai) branch, priced an issuance of 5 year fixed rate notes to an aggregate principal amount of $500 million. The notes were offered only outside the United States to non-US persons under Regulation S of the US Securities Act of 1933, as amended. The notes carry a coupon of 3.125% and were offered at an issue price of 99.574.
Tata Steel after market hours yesterday, 5 August 2015 in its update of recent developments said that while stoppage of despatches from the company's Noamundi iron ore mine in Jharkhand owing to differences with Jharkhand government will financially impact the company till the matter is resolved, the company has taken all measures to ensure that operations of Jamshedpur are unaffected by the actions of the State and the company remains committed to its customers and other stakeholders.
With regard to developments in its European long products business, Tata Steel confirmed the negotiations about the potential sale of its European long products business and associated distribution facilities to Klesch Group have been discontinued. The company had been in talks with Klesch following the signing of a Memorandum of Understanding in October 2014, Tata Steel said. As of 2 August 2015, the long products business, with the associated distribution facilities, became a 100% subsidiary of Tata Steel UK, it added. With the hive down of the long products into a wholly owned subsidiary, the new structure will enable the company to evaluate and execute strategic options in the future, Tata Steel said.
On the issue of pension schemes in Tata Steel Europe, Tata Steel said that following the trade union recommendation to the members for the modification option changes to the British Steel Pension Scheme and the trade union members vote in support of this, Tata Steel UK, a subsidiary of Tata Steel confirms that the formal consulation with employees on the changes has been completed and that the trustee body and the company have made the amendments to the scheme to enable the benefit changes to be adopted.
On the issue of Stichting Pensioenfonds Hoogovens, Netherlands, Tata Steel said that on 7 July 2015, the execution agreement for the company's main pension scheme in the Netherlands, Stichting Pensioenfonds Hoogovens (SPH), was signed by Tata Steel's subsidiary Tata Steel Nederland BV and the SPH Board. The terms of this agreement will allow the scheme to be classified as a defined contribution scheme with effect from 7 July 2015 rather than defined benefit scheme, Tata Steel said.
GlaxoSmithkline Consumer Healthcare's net profit rose 19.12% to Rs 155.01 crore on 8.71% growth in total income to Rs 1099.92 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 5 August 2015.
Bata India's net profit rose 55.28% to Rs 92.19 crore on 8.6% growth in total income to Rs 684.84 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 5 August 2015.
Siemens' net profit rose 1195.23% to Rs 168.25 crore on 1.29% increase in total income to Rs 2431.51 crore in Q3 June 2015 over Q3 June 2014. Siemens' order intake declined 18.23% to Rs 2234.08 crore in Q3 June 2015 over Q3 June 2014. The result was announced after market hours yesterday, 5 August 2015.
Siemens' Managing Director and Chief Executive Officer Sunil Mathur said that order inflow in the company's energy vertical has not yet picked up. The company's continued focus on operational excellence is reflected in its improved profitability, he added.
Meanwhile, retirement fund manager Employees Provident Fund Organisation (EPFO) will reportedly enter the stock market through exchange-traded funds (ETFs) from today, 6 August 2015. As per the decision by the central board of EPFO, the retirement fund manager will reportedly invest up to 5% of its incremental corpus in ETFs in the current financial year ending 31 March 2016.
Taking their cues from gains in Asian and European stocks, key equity benchmark indices in India edged higher yesterday, 5 August 2015. The S&P BSE Sensex rose 151.15 points or 0.54% to settle at 28,223.08, its highest closing level since 23 July 2015.
Asian stocks were mixed today, 6 August 2015. Key benchmark indices in China, Japan and Indonesia rose by 0.11% to 0.78%. Key benchmark indices in Singapore, Taiwan, Hong Kong and South Korea fell by 0.05% to 0.57%.
US markets ended marginally higher yesterday, 5 August 2015 as investors digested conflicting economic data. Activity in the services sector surged to a 10-year high of 60.3 in July, while private payroll growth was softer than expected.
In economic data, a report yesterday, 5 August 2015 showed that private employers added 185,000 jobs in July, down from the 229,000 jobs added in June.
Meanwhile, the pace of growth in the U.S. service sector soared in July, recording its best reading in a decade. The nonmanufacturing purchasing managers index rose to 60.3 in July from 56 in June, its highest reading since August 2005, the Institute for Supply Management said yesterday, 5 August 2015.
The influential monthly US nonfarm payroll report for July 2015 is due tomorrow, 7 August 2015. The report will be scrutinized for clues to the strength of the labor-market recovery. Investors have been parsing economic data, from inflation to wages, for clues about when the Fed might raise rates.
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